Liquidity Alerts

Receiving payment of the benefit or exercising the right to repurchase is only possible in the event of one of the exceptional liquidity contingencies or suppositions provided for in the regulations governing pension plans and funds.

The value of the mobilisation rights, provisions and exceptional liquidity suppositions depends on the market value of the pension fund's assets and may result in major losses.

*The indicated figures advert to the past. The last yields are not a trustworthy indicator of future results.

Investment policy:

The portfolio is made up of national and international fixed-income securities, primarily from the eurozone. The rating of fixed-income assets, deposits and other analogous instruments will be at least 'investment grade' or that which is assigned to the Kingdom of Spain at any given time.

More Information on the Pension Plan

Establishment date

04/04/1997

Manager

Bankia Pensiones S.A., E.G.F.P.

Depository

Bankia, S.A.

Contributions

Contributions will be made directly by shareholders and those made by other people or organisations are not allowed. However, in payment, brokerage by a third party accredited with the Fund Depository Institution as being duly authorised by the shareholder to make the payment will be allowed.

Contributions in favor of disabled people are exempt from the above provision in accordance with the Specifications.

If the chosen frequency is monthly, the minimum contribution will be 10 euros. If it is less frequently than monthly, the minimum contribution will be a whole multiple of that sum corresponding to the months in the period.

Shareholders may always make complementary contributions to those they periodically make, for amounts no less than the monthly minimum.

Provisions

Retirement.

The participant's total and permanent inability to work in his/her usual profession, or absolute and permanent inability to perform any work, and severe disability.

Death of the shareholder or beneficiary, which can generate the right to a survivor's (widow/widower, orphan...) pension or allowance, or a benefit in favour of other heirs or designated persons.

Severe or high dependency of the participant.

EXCEPTIONAL CASE OF LIQUIDITY: Long-term unemployment; Severe illness and Contributions with a longevity of over 10 years.

Mobilizations

Shareholders and beneficiaries may mobilise for this pension plan consolidated and economic rights from any other pension plans they hold managed by other management institutions.

In the same way, you will be able to mobilise all or part of your consolidated and economic rights to any of the individual plans managed by Bankia Pensiones.

Management and Deposit fees

0.85 | 0.19

Taxation

It is necessary to distinguish between the time of the contributions and the benefits:

Contributions:

The total amount of the contribution reduces the general part of the sum subject to income tax. to the lesser of the following amounts: 8,000 euros a year or 30% of the sum of the net earnings from work and economic activities during the financial year.

Contributors whose spouse has no income in the general portion of the tax base or earns an income of less than 8,000 euros a year will be able to deduct from the tax base any contributions to pension plans in which the spouse is a participant, with an annual maximum limit of 2,500 euros.

Contributions made by disabled people: maximum reduction 24,250 euros per year. The parties who can make contributions to a disabled person's pension plan (degree of physical or sensory disability greater than or equal to 65%, mental disability greater or equal to 33%, and those with legally declared incapacity, regardless of the degree), the spouse, relatives, directly or via marriage to the third degree, or those who are legal guardians or foster parents, with a maximum deduction of 10,000 euros a year. The application of the established reductions may not lead to a negative taxable sum.

Provisions:

Tax will be paid as on income from work.

a) As capital:

They are not eligible for deductions.

Temporary arrangement: for provisions deriving from contingencies occurring before 01/01/2007 and those occurring after 01/01/2007 for the part corresponding to contributions before 31/12/2006, beneficiaries may apply the reduction established in art. 17 of the Income Tax Act applicable on 31/12/2006. In general, if the benefit is received in the form of capital, a 40% reduction will apply to the consolidated right if the first contribution was made at least 2 years before the date of the contingency.

From 1 January 2015 is limited the application of the aforementioned transitional arrangement (until 31/12/06) to perceived provisions in the exercise in which happens the corresponding contingency, or in the two following tax years

For plans that have not yet been redeemed whose contingencies have already occurred, the limit will be as follows

• Contingencies in FY 2011 to 2014: the transitional arrangement will only apply to benefits received up to the completion of the eighth financial year following the year in which the contingency occurred.

• Contingencies in FY 2010 or earlier: the transitional arrangement will only be applicable to benefits received up to 31 December 2018.

b) Through income:

They are not eligible for deductions.

Exemption up to a maximum of 3 times the IPREM (Multiplier effect on index of revenue) in the case of the disabled.

Type of Guarantee

This pension plan is not guaranteed.

Inverco category

Short-term fixed income.

Priority

Sector

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